April 9 saw Sarah Kunst, managing director at Cleo Capital, discuss her perspectives on Bitcoin and the wider crypto market during an appearance on CNBC’s “Worldwide Exchange” for an interview.
Kunst initially discussed the buzzing cryptocurrency market, touching upon the upcoming Bitcoin halving and the prospect of approved ETFs for Ethereum (ETH). She highlighted the revival in numerous cryptocurrencies beyond just Bitcoin, with even less-known coins showing impressive growth. The investor community appears to favor Ethereum over Bitcoin due to its application capabilities, despite Ethereum’s price surge not keeping pace with Bitcoin’s. It is essential to mention that Ethereum has climbed more than 58% in 2024 but remains far from its record high of $4,878, which was hit on November 10, 2021.
During the conversation, the effect of reduced interest rates on Bitcoin was a significant topic. Kunst pointed out that while Bitcoin was once considered an uncorrelated asset, this has not been consistently true. She suggested that when interest rates decrease, conventional safe investments become less enticing, causing cryptocurrencies to seem more alluring as alternatives. With central banks reducing rates as a sign of economic instability, both individual and institutional investors could potentially shift their focus towards Bitcoin and other cryptos, leading to price increases.
Articulating it differently: According to Kunst’s analysis, following record-breaking peaks, significant cryptocurrencies like Bitcoin, Ethereum, Solana, and XRP usually experience a decline as initial investors cash out their profits. This pattern signifies the substantial returns long-term investors can secure versus their original investments. However, Kunst remains optimistic about the crypto market’s general trajectory, which he anticipates to be upward.
She was also asked about the impact of the upcoming Bitcoin halving (expected around April 20) on its price, where she suggested that it would likely lead to price increases. However, Kunst cautioned that entering the Bitcoin market during a news cycle peak or at all-time highs might not be the best strategy for newcomers.
Read More
- SOL PREDICTION. SOL cryptocurrency
- UXLINK PREDICTION. UXLINK cryptocurrency
- APE PREDICTION. APE cryptocurrency
- USD RUB PREDICTION
- USD UAH PREDICTION
- USD VND PREDICTION
- ETH PREDICTION. ETH cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- RAY PREDICTION. RAY cryptocurrency
- PHB PREDICTION. PHB cryptocurrency
2024-04-09 16:50